Budget 2024: how the inflation monster will affect taxpayers
The Budget Review suggests that National Treasury does not intend adjusting the tax brackets for at least another two years.
FSCA licenses most crypto provider applicants – as enforcement tightens
The rising number of investigations and inspections underline a shift from registration to active supervision.
Key aspects of Treasury’s proposals to reform SA’s financial ombud system
The National Financial Ombud’s jurisdiction will be expanded in phases to include the activities of all regulated financial institutions.
Hackers access CIPC’s client and employee records
The commission urges clients to monitor transactions on their credit cards.
Labour Court upholds restraint of trade, warning against confidentiality breaches
Two insurance brokers found themselves under the scrutiny of the Labour Court, as they were called to account for soliciting clients from their previous employer.
New National Financial Ombud scheme launches
The previously separate credit, banking, and long-term and short-term insurance ombud schemes are now under one roof.
Health department pushes the case for ‘affordable’ NHI
Meanwhile, Solidarity suffers a setback in its efforts to halt the government’s preparations for implementing the system.
FIC publishes new guidance on financial sanctions compliance
Accountable institutions are required to scrutinise client information against the targeted financial sanctions lists to identify designated persons and entities linked to clients.
Existing financial ombud system is ‘too complex’ for consumers to navigate
There is a high degree of consensus over the reform recommendations put forward by the World Bank Group, says Treasury.
Ombuds will handle cases involving disputes of fact or law and award compensation
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
How the economy and the bond market influence the Budget
South Africa’s core fiscal challenge is to get the gap between economic growth and the cost of borrowing back into positive territory.
FSCA fines asset manager R16m for FICA non-compliance
The reasons for the sanction are virtually identical to those that saw the Authority fine an FSP earlier in February.
Certain intermediaries can continue to provide premium collection services
Independent intermediaries must adhere to the conditions if they want to rely on the exemptions from the regulations under the Short-term and Long-term Insurance Acts.
Information Regulator issues Enforcement Notice over direct marketing violations
The regulator says its ‘leniency regarding direct marketing through unsolicited electronic communications is going to be a thing of the past’.
Deadline alert: make the most of public holidays to meet CPD requirements
MBSE’s CPD subscription packages are designed so that FSPs and their representatives can obtain their CPD hours.
Corporates brace for impact: navigating SA’s top 10 business risks
For the first time, theft, fraud, and corruption have surged onto the Allianz Risk Barometer’s top 10 business risks for South Africa.
Kieswetter agrees to extended term as SARS head amid economic challenges
The commissioner says the Revenue Service has put measures in place to meet the revised estimate for revenue collection.
Study: RAF losing R3bn a year in ‘opportunistic’ loss of income claims
Research on behalf of the Actuarial Society recommends prohibiting individuals with minor injuries from submitting loss of income claims.
